Bermuda-based shipping container investment and leasing group SeaCo Ltd has announced a second liquidating distribution of $0.05 per share, representing a payout of $33 million.SeaCo was formed in 2009 to hold the existing container leasing investments of Sea Containers Ltd, which filed for bankruptcy in October 2006 and was finally wound up in 2010.The money to be distributed to shareholders comes from a trust set up under the reorganisation of Sea Containers that was funded with SeaCo shares for possible distribution to certain claimants against Sea Containers. Approximately 53 million SeaCo shares held by the trust have since been cancelled, and the funds now being distrusted represent the return of distributions made by SeaCo to the trust in January 2012.The board of directors of SeaCo, which has offices in Par-La-Ville Road, yesterday declared the second liquidating distribution of the $0.05 per common share for shareholders of record at the close of business on April 1 this year. The payments will be made on April 10. There are currently 661 million shares of SeaCo common stock currently outstanding.SeaCo’s main asset was a 50 percent joint venture interest in GE SeaCo Srl of Barbados, one of the world's largest container lessors with nearly one million Twenty-Foot Equivalent Units under management. That interest, along with its owned container fleet, which had been managed by GE SeaCo, were sold to China’s HNA Group Co Ltd in December 2011. In a statement yesterday, SeaCo said that $41 million of the sale proceeds were placed into escrow and to its knowledge no claims have been made upon the escrowed amount.